Poway - Week of September 29th, 2014
Single Family Homes
This WeekThe median list price in POWAY, CA this week is $799,000. The 153 properties have been on the market for an average of 89 days.
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.
Supply and DemandThe market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We're already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer's zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
This week saw relatively little price change from last week. However the market appears to be trying to establish an uptrend. The Market Action Index is a good leading indicator for the durability of this trend.
Inventory of Properties Listed for Sale
Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
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Data Provided by and Copyright Altos Research LLC